Fifteen classes from seven Delta Funding Corp. home equity issues have been downgraded by Fitch Ratings.In addition, Fitch upgraded four classes and affirmed the ratings on 27 classes from 11 Delta Funding transactions. The downgrades were attributed to high delinquencies and a deterioration of credit enhancement. The collateral in the deals consists of fixed- and adjustable-rate, first- and second-lien subprime residential mortgage loans.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
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Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
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Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
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Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
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Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
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Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
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